JPMorgan Chase & Co. trimmed its position in Avista Corp (NYSE:AVA) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,178,451 shares of the utilities provider’s stock after selling 92,473 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.79% of Avista worth $59,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVA. FMR LLC increased its holdings in Avista by 146.5% during the second quarter. FMR LLC now owns 106,000 shares of the utilities provider’s stock valued at $5,582,000 after buying an additional 63,000 shares during the last quarter. Bank of America Corp DE increased its holdings in Avista by 52.0% during the second quarter. Bank of America Corp DE now owns 182,782 shares of the utilities provider’s stock valued at $9,625,000 after buying an additional 62,497 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Avista by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 970,494 shares of the utilities provider’s stock valued at $51,105,000 after buying an additional 13,851 shares during the last quarter. United Services Automobile Association increased its holdings in Avista by 23.9% during the second quarter. United Services Automobile Association now owns 14,994 shares of the utilities provider’s stock valued at $790,000 after buying an additional 2,892 shares during the last quarter. Finally, Havens Advisors LLC increased its holdings in Avista by 22.7% during the third quarter. Havens Advisors LLC now owns 162,000 shares of the utilities provider’s stock valued at $8,191,000 after buying an additional 30,000 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Shares of AVA stock opened at $41.85 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.53. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 21.21 and a beta of 0.45. Avista Corp has a 12 month low of $39.92 and a 12 month high of $52.91.

Avista (NYSE:AVA) last announced its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). The firm had revenue of $296.00 million during the quarter. Avista had a return on equity of 7.38% and a net margin of 8.31%. Avista’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.07 earnings per share. As a group, research analysts predict that Avista Corp will post 2.07 earnings per share for the current year.

AVA has been the subject of a number of research reports. TheStreet cut shares of Avista from a “b-” rating to a “c+” rating in a report on Thursday, January 24th. ValuEngine cut shares of Avista from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Williams Capital raised shares of Avista from a “sell” rating to a “hold” rating and upped their target price for the company from $40.00 to $41.00 in a report on Friday, January 4th. Finally, Guggenheim reaffirmed a “hold” rating and set a $40.00 target price on shares of Avista in a report on Friday, December 7th.

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Avista Company Profile

Avista Corporation operates as an electric and natural gas utility company. It operates through two segments, Avista Utilities and AEL&P. The Avista Utilities segment provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho; and natural gas distribution services in parts of northeastern and southwestern Oregon, as well as generates electricity in Washington, Idaho, Oregon, and Montana.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Avista (NYSE:AVA)

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